Related Posts
HYSA anyone recommends?
Does SAP SDC provide any mobile phone device?
More Posts
Additional Posts in Accounting
I think Canvas took the holiday today
Stranger Things 2. OH MAN! It's SOOOOOO GOOD!
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.




Pro
It pays something like 2.5%-4% of salary based on age and years of service. Vests over 4 years I think.
Unlike wealth builder, you can’t choose what to invest in. Instead it grows at a guaranteed 4% a year. When you quit/retire you can choose the lump sum and roll it into a retirement account or convert it to an annuity depending on how much you’ve accumulated.
The little Klynveld is also a minimum 5%
We have a pension but don't the first thing about how it works
Pro
That’s the 401k bud…
401k is 50% match up to 6% contribution (your first few years are 25% match).
There is also the defined benefit cash balance plan. Firm contributes $ that is guaranteed a 4% rate of return. This plan replaced the traditional defined benefit plan that ended a few years ago (that was a payout based an average salary subject to caps). The new plan formula is a bit of a black box but “supposed to yield similar benefit” at retirement age. In practice it means lower payouts to people that do not stay at the firm for the entire career. Still better than nothing
If your young just find a high income spouse and retire in 10 years. Very easy to do. Look at Mr Money Mustache